Michael Milken

Michael Milken

As an executive at Drexel Burnham Lambert Inc. during the 1980s, Milken used high-yield junk bonds for financing and corporate takeovers. While his personal wealth was enormous, he spent two years in prison after pleading guilty to charges of securities fraud.

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Nicknamed the "junk bond king," Milken earned between $200 and $550 million dollars per year at the height of his success. Following his release from prison, he worked as a strategic consultant. This was in violation of his probation, and he was subsequently fined a paltry $42 million for these actions. In 1993, Milken was diagnosed with prostate cancer since then he has spent much of his time and resources in an attempt to find a cure for the disease.

See also: Corporate Finance, Junk Bond, Takeover, Yield